Genesis is getting serious about its attempt to compete with the likes of BMW, Mercedes-Benz and Lexus, investing millions in a new flagship Sydney showroom. This comes as the Hyundai-owned luxury brand revealed its first motor racing program and unveiled a pair of wild concepts.
Having tried to launch itself as an alternative to the established luxury brands with CBD ‘Studios’ in Sydney and Melbourne, rather than conventional dealerships, the opening of Genesis Sydney can be seen as the brand acknowledging that buyers like the traditional showrooms experience. The massive dealership is equipped with a modern design, complete with an indoor garden, lounge areas, consultation rooms and space for an expanding line-up of vehicles in the future.
Underlining the importance of this event for the brand locally, global Genesis CEO Mike Song and motor racing legend (and Genesis brand ambassador) Jacky Ickx were on-hand to formally open the Sydney showroom; which is located on Parramatta Road, Concord.
It comes at a time of major investment in Genesis from the brand around the world, as Hyundai steps up its efforts to establish it as a serious global luxury brand. The introduction of the Magma sub-brand for performance vehicles has been elevated with the launch of Genesis Magma Racing, the brand’s first motorsport program.
Genesis Magma Racing will begin operations in 2025 but won’t hit the track with its bespoke LMDh contender in the World Endurance Championship until 2026. It then has plans to expand into the US IMSA series in 2027, as the Magma line-up of road vehicles is expected to grow.
On top of this Genesis has revealed two wildly different concepts in January. In the Saudi Arabian desert it showed off the GV80 Desert Edition with Ickx behind the wheel, then a week later it showcased the GV60 Mountain Intervention Vehicle (MIV) Concept in the snow at the World Economic Forum in Davos, Switzerland.
The level of recent investment across the entire business makes it clear Genesis wants to grow, but it will need all these racing and concepts to help spur sales growth. Genesis Australia finished with just 1400 sales, compared to Volvo’s 8898, Lexus’ 13,642 and well-behind BMW’s luxury-class-leading 26,341 sales.
However, as Lexus has demonstrated, Asian luxury brands can succeed but it has taken decades for it to eat into the lead of the leading German trio – BMW, Mercedes and Audi. Genesis will be hoping its bigger dealerships, performance cars and motorsport efforts will help shortcut that time period and become a serious contender sooner rather than later.
What do you think: Can Genesis take on the likes of BMW, Mercedes-Benz and Lexus?
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